O & A Reports and Headlines

Otis & Ahearn's unique synergy of residential brokerage and new development sales & marketing services has made us the trusted advisor to real estate developers, investors, and financial institutions. At the foundation of that trust is our dedication to detailed market data. Our in-house research analysts focus on the Downtown Boston, Urban Emerging and select Suburban real estate markets. They produce numerous reports including our Weekly Market Update, Leverage Trends, and S.U.R.E. Trends. This comprehensive business approach to real estate data analysis is unparalleled in our market.

O&A View

There are less than two weeks remaining in what has turned out to be a very positive year for the real estate market in Downtown Boston.  Transactions and dollar volume have surged more than 30% above 2011 while the median price is 6% greater than its previous year end high of $470,000, achieved in 2008 and 2010.  This is a story that for the most part, has remained below the media radar all year, with the local newspapers only recently reporting on the positive trends in Boston real estate.


Going into 2013 inventory or more precisely, the lack of inventory will continue to apply upward pressure on prices.  At the end of last quarter (Q3) of 2012 there were, according to the listing service LINK, only 375 condominiums available for sale in Downtown Boston.  The previous low inventory point was 486 condominiums for sale, at the end of Q1 2003, a time when interest rates were very low, as they are now.  In addition the country was coming out of the Dot-Com recession during that time.  Coincidentally 2003 was also the beginning of a very robust period for sales and dollar volume growth in Downtown Boston.  One fundamental difference between 2012 and 2003 is new construction inventory coming to the market.  In 2003 there were three large, full service buildings introduced: Grandview (60 units), Atelier 505 (104 units) and One Charles (232 units) those buildings were followed in 2004 by:  Parris Landing (367 units), Strada (104 units), Bowdoin Place (75 units), Channel Center (117 units).  The only new construction building to debut this year was Millennium Place (265 units, anticipated occupancy October 2013) and the next new construction, for-sale buildings exist only on paper, as permits or proposals.  Perhaps the rising prices will entice sellers into the market who have been resistant heretofore, thereby giving buyers a few more choices while they wait for new inventory to be created.

*For a copy of Otis & Ahearn's Downtown Boston Condominium Weekly Report, click here to request.  
 

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O & A Insights

2013 Projected to be Record Year in Downtown Boston Condo Market

Halfway through the year and it looks like the Downtown Boston residential real estate market could set a number of records.  At this juncture all four key data point that we track are ahead o

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Halfway through the year and it looks like the Downtown Boston residential real estate market could set a number of records.  At this juncture all four key data point that we track are ahead o

Coming in,

Thrilled to be a part of this team and excited about the possibility of helping all those with the discernment of choosing Otis & Ahearn to find the dwelling they want!

Boston Strong

What a week it has been in Boston.

Our office on Newbury Street in the Back Bay.

As a results of the events at the finish line of yesterdays Boston Marathon our office at 200 Newbury Street are closed today April 16, 2013.

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February home sales drop, but not from lack of interest.

Boston’s two daily newspapers both carried stories in their morning additions reporting on the lack of inventory in the Massachusetts home market.  According to data from the Warren Grou

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How times change.  Not so long ago the headlines were full of stories of property languishing unsold, homeowners upside down financially and millions of units of “shadow” inventory

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